Dream Home Mortgage

Standalone Second MortgageTake cash out without refinancing your first mortgage

A standalone second records behind the loan you already have. Your rate, your balance and your term stay exactly where they are.

See how much your equity supports

$100K–$750KLoan amounts
80% Max LTV CLTV for Owner-Occupied
550Min FICO
Investment: No-Income OptionOwner-Occupied: Income Required
Your lien position, after closing
Remaining equityYours
Untouched cushion above the combined lien
New second lienNew cash
80% LTV owner-occupied · 75% LTV investment · no-income
Existing first mortgageUnchanged
Same rate, same balance, same term, same servicer

A cash-out refinance replaces the bottom block. A standalone second leaves it alone and adds the middle one.

28+Years lending
50States Served
4.6Google rating
$250KRecent standalone second closed
Registered and verifiable

MLO Hussein Panjwani #334616
Brazos National Bank #473879

Equal Housing Lender

Every application assessed against the same standards.

Plano, Texas office

6005 W Park Blvd, Plano, TX 75093

No credit pull to start

The estimator and the enquiry form run no credit check.

Refinancing to get cash means giving up the best rate you will ever have

If your first mortgage was locked in 2020 or 2021, a cash-out refinance reprices your entire balance to get at a fraction of it. A second lien gets you the same cash and leaves the first alone.

Cash-out refinance

  • Your low-rate first mortgage is paid off and replaced
  • The new rate applies to the entire balance, not just the cash
  • Amortization clock resets from year one
  • Full income documentation, tax returns and employment checks
  • Longer file, full underwrite, more conditions
VS

Standalone second mortgage

  • First mortgage untouched, same rate and same servicer
  • Only the new money carries the second lien terms
  • Existing amortization keeps running
  • Owner-Occupied: Income Required · Investment: No-Income Option
  • Property, equity and credit drive the decision

How much can you pull out?

Enter your numbers to estimate the second lien your available equity may support based on occupancy and credit tier, before underwriting.

Your property

No contact details required to see a number.

$
$
Estimated available second lien
$300,000

At up to 80% LTV/CLTV for an owner-occupied primary residence, subject to qualification.

First mortgage $380,000 New second lien $300,000 Equity remaining $170,000

*Estimate only. Final loan amount and maximum LTV/CLTV depend on credit profile, appraised value, lien position, occupancy, property type, state and program eligibility. Investment-property leverage varies by credit tier and may be available up to 75% LTV/CLTV. Loan amounts range from $100,000 to $750,000. Some restrictions apply.

Confirm what you actually qualify for

Your estimate is above. A few more details and a specialist confirms the lien position, the leverage and whether your state and occupancy fit the program. Income requirements depend on occupancy. Owner-occupied loans require income documentation; investment properties may qualify for the no-income program.

Fields marked * are required.

*No credit pull and no documents at this stage. Your property value, first mortgage balance and credit tier from the estimator above are submitted with this form.

From enquiry to funded, and what each step costs you

No part of this process puts your credit at risk before you decide to proceed.

  1. 1

    You send the form

    Six fields. No credit pull, no tax returns, no bank statements, no documents of any kind.

    2 minutes
  2. 2

    A specialist reviews it

    We confirm the lien position your equity supports, and whether your state, occupancy and property type fit the program.

    Within 1 business day
  3. 3

    You get real terms

    Loan amount, combined loan-to-value and term, on your actual property. Still no credit pull unless you ask us to proceed.

    Same call
  4. 4

    Appraisal, then close

    Your first mortgage is never touched. On a Texas homestead the required 12-day waiting period is added before closing.

    Varies by file

*Timings describe a typical file and are not guaranteed. Some restrictions apply.

Three ways to reach your equity, and what separates them

A HELOC and a standalone second are both second liens. They behave very differently once the money is drawn, and Documentation requirements vary by occupancy.

HELOC

Revolving

A credit line secured by your equity. Draw, repay, draw again during the draw period.

First mortgageKept
Income docsUsually yes
Rate typeUsually variable
Money arrivesAs you draw
Investment propertyLimited

Best when you want flexibility and you can document income.

Standalone second

This program

A fixed second lien closed on its own, behind a first mortgage that stays exactly as it is.

First mortgageKept
Income docsOwner-Occupied: Income Required Investment: No-Income Option Available
PaymentInterest only
Money arrivesLump sum at closing
Investment propertyFrom 550 FICO

Best when you want to access equity while keeping your existing first mortgage in place.

Cash-out refinance

Replaces first

A new first mortgage that pays off the old one and returns the difference in cash.

First mortgageReplaced
Income docsFull or alt doc
PaymentPrincipal and interest
Money arrivesLump sum at closing
Investment propertyYes, tighter

Best when the existing first mortgage rate is no longer worth protecting.

Can you have a HELOC and a second mortgage at the same time?

Outside Texas, yes. Both are second liens, so they compete for the same position, and a lender taking the new one will want the combined loan-to-value to stay inside its ceiling. Whichever records first holds second position, and the other moves to third.

Can you have two home equity loans?

In most states yes, subject to the combined loan-to-value cap. Texas allows only one at a time. A Texas homestead can carry a single home equity lien, so a standalone second there replaces that slot rather than stacking on top of an existing one.

Eligibility by occupancy

The property's occupancy decides the credit floor, the leverage and the term.

Owner-Occupied Primary Residence

Self-employed borrowers and business owners

Minimum FICO620
Maximum CLTV80%
TermUp to 24 months
Payment structureInterest only
Income documentsRequired
ReservesNone

Investment Properties

Non-owner-occupied, 1–4 units

Minimum FICO550
Maximum LTV/CLTVUp to 75%
Term6 to 36 months
Payment structureInterest only
Income documentsNone
ReservesNone

*Maximum leverage varies by credit profile and program eligibility.

*Eligible property types: SFR, PUD, 2 to 4 units, and condos including non-warrantable. CLTV is the first mortgage balance plus the new second, divided by the property value. Some restrictions apply.

How a standalone second works on a Texas homestead

Texas is available for both tracks, owner-occupied and investment. Texas also has the strictest homestead rules in the country, so a second lien on a primary residence there follows Article 16, Section 50 of the Texas Constitution. None of it stops the loan. It shapes the timeline and the ceiling, and it is worth knowing before you start.

One home equity lien at a time

A Texas homestead carries a single home equity lien. A new one replaces the existing lien rather than stacking on top of it.

80% combined loan-to-value ceiling

First mortgage plus the second cannot exceed 80% of fair market value on a homestead. Owner-occupied primary residences may qualify up to the 80% combined loan-to-value limit, subject to program and underwriting requirements.

12-day waiting period

Closing happens no sooner than 12 days after the required disclosure reaches you. Build it into your timeline.

Once every 12 months

A new Texas homestead equity lien cannot close within a year of the last one on the same property.

What this means in practice

  • Texas homestead second liens are available, inside the 80% ceiling and the 12-day timeline
  • Texas investment property second liens are not homestead and are not subject to Section 50 at all
  • If you already hold a Texas home equity lien, a cash-out refinance may be the cleaner route

Who this program is built for

Self-employed owners

Write-offs make documented income look thin, but the equity is real and the business needs capital.

Investors adding doors

Need a down payment on the next property without selling or refinancing the one they already own.

Business capital needs

Payroll, inventory, a partner buyout or an opportunity with a window measured in weeks.

Low-rate first holders

A 2020 or 2021 first mortgage worth far more than the cost of leaving it exactly where it is.

$250,000 standalone second, owner-occupied primary residence

A self-employed borrower needed working capital while keeping an existing first mortgage in place. A standalone second was recorded behind the first mortgage, allowing the original loan to remain unchanged. This transaction closed under the program guidelines available at that time.

Loan amount$250,000
OccupancyPrimary residence
StateTexas
Lien positionSecond
Income documentsNone at Closing
ReservesNone
First mortgageUnchanged

Previously closed loan example. Current owner-occupied program guidelines require income documentation. Loan programs, terms, LTV limits, and eligibility requirements are subject to change.

What our clients say

Standalone second mortgage FAQ

A standalone second mortgage is a new loan recorded in second lien position behind an existing first mortgage that stays in place. It is originated on its own rather than alongside a purchase or refinance of the first.

No. The rate, balance, payment and remaining term of the first mortgage stay exactly as they are. The second lien records behind it and is repaid separately.

Yes. Qualifying investment properties may be eligible for the no-income option at up to 75% LTV, subject to underwriting and property requirements.

Monthly payments cover interest and nothing else, so the principal balance does not reduce. The full loan amount is due at maturity, which makes an exit plan essential.

Yes. Standalone seconds are available on Texas homesteads as well as on Texas investment properties. Homestead liens follow the Texas Constitution, so the 80% combined loan-to-value ceiling and the 12-day waiting period apply.

Both are liens recorded behind a first mortgage. A HELOC is a revolving credit line you draw against over time. A standalone second is a fixed amount funded in one lump sum at closing.

A HELOC usually carries a variable rate, requires income documentation and funds as you draw. A standalone second funds once in a lump sum. Income documentation is required for owner-occupied properties, while qualifying investment properties may use the no-income option.

Outside Texas, yes, subject to the lender's combined loan-to-value ceiling. Whichever lien records first holds second position and the other moves to third position behind it.

In most states yes, within the combined loan-to-value cap. On a Texas homestead only one home equity lien is allowed at a time, so a new one replaces the existing lien rather than sitting alongside it.

Yes. A first and a second mortgage on the same property is the standard structure here. The second records behind the first and is repaid as a separate loan with separate terms.

Owner-occupied primary residences start at a 620 FICO. Investment properties start at 550 FICO, with the available leverage rising as the credit score increases.

Yes. Condominium projects that do not meet agency warrantability standards are eligible collateral under this program, along with single family homes, PUDs and 2 to 4 unit properties.

Loan amounts run from $100,000 to $750,000, subject to the combined loan-to-value ceiling for the occupancy type and credit tier of the specific file.

Find out what your equity will support

A short conversation tells you the lien position, the leverage and whether your state and occupancy fit the program. Documentation requirements depend on whether the property is owner-occupied or investment.

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